Social Solar Solcor XIX
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Social Solar Solcor XIX

Solar energy for self-consumption for firefighters headquarters
Investment overview
Impact category
Sustainable energy
Investment type
Loan
Yearly interest
6.1
%
Term
120
months
Risk level
The Risk Rating is the result of our credit risk assessment, which looks at the promoter’s financial strength and the project’s viability. It’s shown from A+ (lowest risk) to D (highest risk) and helps you compare projects and make informed decisions.
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B-

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https://goparity.com/projects/social-solar-solcor-xix-632

Description
Impact
Financial viability
Promoter

What will you be financing?

This campaign aims to finance a photovoltaic plant for the Humanitarian Association of Firefighters of Amadora, a nonprofit fire and emergency services organization with more than 120 years of service to the community.

The Humanitarian Association of the Amadora Volunteer Firefighters was founded in 1905 and is the only firefighting corps in the city of Amadora. With around 176.000 inhabitants in an area of just 24 km², surrounded by the main access roads to Lisbon with heavy daily traffic, it is the Amadora Firefighters whom the population - and everyone passing through the city - rely on for assistance and rescue. Their mission focuses on protecting people and property, providing aid to the injured and the ill, and extinguishing fires, maintaining to this day a humanitarian and solidarity‑driven approach.

The contract signed between Solcor Portugal and the association includes the installation of a 93,22 kWp solar photovoltaic system for self-consumption, composed of 158 panels (590W each), two inverters, DC and AC equipment and accessories, monitorization equipment, and a support structure. It will enable the production of over 125 MWh of clean energy per year and 40% energy self-sufficiency. This guarantees a reduction of 48% in electricity costs. The project also includes the safe removal of asbestos from the existing roof and its replacement with a new, safer structure.

The installation and operation of the facilities will be installed and operated by the campaign promotor: Solcor Portugal, a company specializing in the development and operation of solar photovoltaic installations. 

What is the impact?

Direct 

Contribution to the decarbonisation of Portugal, avoiding CO2 emissions: With a total production of clean energy of over 125 MWh per year, the solar plant will avoid the emission of more than 13 tonnes of CO2 per year. This is equivalent to the CO2 absorption of 624 trees.

Cost reduction for the end customer: decentralized energy production through renewable sources, close to the place of consumption, helps to avoid distribution costs, this being the most competitive option. In addition, the company's lower dependence on the national grid makes it less vulnerable to price fluctuations and tax charges.

Improving the health and well-being of workers: the removal of the asbestos roof at the factory has direct health benefits for everyone who works in the building. The use of asbestos in buildings has been banned in the European Union since 2005 and its presence has been associated with cases of cancer and other lung diseases, due to the inhalation of its fibers. The removal of asbestos from the roof must be performed by technicians and specialized companies so that safety is guaranteed.

Indirect

Improvement of the organization's core services: the cost reduction in electricity expenses enables the Firefighting Association to improve their services for the community.

Impact indicators

13750
CO2 avoided per year
125586
clean energy
created by our projects
of sustainable
impacted

Contribution to the Sustainable Development Goals

About the Promoter

About
SOLCORELIOS II, UNIPESSOAL LDA

Direct 

Contribution to the decarbonisation of Portugal, avoiding CO2 emissions: With a total production of clean energy of over 125 MWh per year, the solar plant will avoid the emission of more than 13 tonnes of CO2 per year. This is equivalent to the CO2 absorption of 624 trees.

Cost reduction for the end customer: decentralized energy production through renewable sources, close to the place of consumption, helps to avoid distribution costs, this being the most competitive option. In addition, the company's lower dependence on the national grid makes it less vulnerable to price fluctuations and tax charges.

Improving the health and well-being of workers: the removal of the asbestos roof at the factory has direct health benefits for everyone who works in the building. The use of asbestos in buildings has been banned in the European Union since 2005 and its presence has been associated with cases of cancer and other lung diseases, due to the inhalation of its fibers. The removal of asbestos from the roof must be performed by technicians and specialized companies so that safety is guaranteed.

Indirect

Improvement of the organization's core services: the cost reduction in electricity expenses enables the Firefighting Association to improve their services for the community.

Promoter website

http://www.solcor.pt

Team

[{"id":71,"promoter_id":280,"name":"Steven V Cauwenberge","description":"Founder of the Solcor Group, currently serving as Chief Executive Officer of the Solcor Group. Master’s degree in Business Engineering – Finance from KU Leuven. Master’s degree in Civil Engineering. Postgraduate studies in Investment Analysis at the London School of Economics.","link":"https://www.linkedin.com/in/steven-van-cauwenberge-93582395/","role":"Chief Executive Officer of the group","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/63b/db5/753/63bdb575312fc954774465.jpg","avatar_id":76177},{"id":72,"promoter_id":280,"name":"Vincent Vangeel","description":"Master’s degree in Business Engineering – Supply Chain from KU Leuven. \r\nMaster’s degree in Renewable Energy Engineering from IST in Lisbon and KTH in Stockholm.","link":"https://www.linkedin.com/in/vincent-vangeel/overlay/photo/","role":"Co-founder and CEO","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/63b/db5/bfd/63bdb5bfdd386221369571.jpg","avatar_id":76179},{"id":73,"promoter_id":280,"name":"Tommaso Mura","description":"Graduated in Energy Engineering from the Polytechnic University of Turin. \r\nMaster’s degree in Renewable Energy Engineering from IST in Lisbon and KTH in Stockholm.","link":"https://www.linkedin.com/in/tommaso-mura-a7ab65165/?originalSubdomain=pt","role":"Co-founder and COO","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/63b/db6/08b/63bdb608ba7c3254533171.jpg","avatar_id":76180}]

Business Model

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